This week, CoinMarketCap dives into a new way to participate in many different play-to-earn projects in one place.
When buying a video game, what do you consider when deciding if it’s worth the money? Is a $60 game that can be conquered in seven hours before you start looking for overpriced expansion packs worth it? No thanks. How about $60 for a 30-hour adventure with items to hunt down and collect? Getting warmer.
What if you could play a video game that pays you instead and helps you earn digital items and non-fungible tokens (NFTs) with real world value? Now you’re talking! Welcome to the exciting world of Seedify, a new launchpad for NFT gaming and initial game offerings (IGOs).
What Is Seedify?
Seedify, also referred to as Seedify.fund, considers itself the future of the surging play-to-earn (P2E) crypto genre, and will act as a launchpad for blockchain games and gamers. By playing video games, players can earn in-game item NFT and tokens as rewards.
The P2E model of gaming NFTs has made waves in 2021, thanks to the incredible success of pioneering blockchain games — most notably Axie Infinity — and the best new projects are in red-hot demand.
In 2018, when Seedify.fund founder Levent Cem Ayden became interested in pursuing his own startup ambitions, it was common for half of the initial equity to be taken by the equity firm, leaving little to no room to innovate or motivate developers through incentives.
After years of becoming frustrated with private equity firms and their attitude toward crypto start-up projects — fast forward to January 2021 — and Seedify.fund was created to allow players to vote on decisions and the direction of proposed projects and innovation ideas.
You might be wondering how this is possible. No, you won’t be selling your endgame account for a fistful of Satoshis (fractions of a Bitcoin). By participating in initial game offerings (IGOs), marketing and crowdfunding allows quality blockchain games to receive community support, creating an opportunity for participants to earn tokens before becoming listed on exchanges.
Seedify is a new opportunity for the cryptocurrency community to break into another market of active users of the web who could participate in DeFi, staking and blockchain support — the video game industry is worth almost $65.5 billion dollars as of 2021.
How Does Seedify.fund Work?
So how does Seedify allow swinging a sword or shooting a bow to earn you crypto or NFT? Before getting involved, it’s important to know how to register and decide your level of contribution.
The Seedify.fund ecosystem uses SFUND, its Binance Smart Chain-powered BEP20 asset, as currency, allowing holders to stake it and earn incentivized rewards, or invest it in order to get guaranteed access to launchpad allocations from token sale events such as presales, ICOs and IDOs.
Lottery System for Pool Weighing
To participate in future IGOs, a lottery-based system will decide what tier level you may join to decide your pool weighting for distribution. Weight refers to the likelihood your name will be chosen at random from a total number of names. If your weight is ten out of a total of 100, your chance of being picked is 1/10. A higher weight will increase the likelihood you benefit from the IGO, be it tokens or NFTs. More details on the recently updated tier list can be found here.
Staking requires that you purchase and commit SFUND to a pool. The bigger the bag of SFUND you have, the higher the tier you will be able to commit to. SFUND can be purchased on exchanges Pancakeswap or Kucoin. Coins purchased on centralized exchanges like the latter need to then be transferred to the correct wallet used for the next step.
KYC and Connecting to the Seedify Launchpad
Seedify provides a helpful guide on how to complete the KYC process, as it varies based on country. Tokens must be kept in the respective wallet used in the KYC process, then be used to interact with the launchpad. The verification is completed with Blockpass, a third-party verification process used for regulated industries. Standard information will be required, such as proof of identity, a recent invoice to your physical address, and email verification.
After completing your verification through Blockpass, your wallet can then be connected to the Seedify launchpad here, and will then allow you to choose the pool of the project for your desired IGO.
Seedify Project Tokenomics
Each funded Seedify.fund project will receive 75,000 tokens from Seedify to create the fund, in exchange for 3% of the respective project's tokens.
The token distribution is as follows:
-50% of the remaining pool will be placed in the funding pool for the project;
-25% will be distributed to stakers;
-15% towards community involvement rewards of Seedify.fund incubator;
-10% to Seddify.fund operations.
What Makes Seedify Unique?
A majority of blockchain projects use an inflationary method to stay sustainable. Staking is only continued due to staking incentives, creating a dilution of tokens for non-stakers. Eventually, the currency could lose value due to the constant creation of new tokens.
Seedify avoids inflation by not creating new tokens, and rewards tokens from other projects as staking rewards. This anti-inflation approach not only prevents long term dilution of the staking asset, but incentivizes community members to commit to quality games and projects, as this will decide their staking reward.
But how does a project become considered and selected to be funded?
Seedify uses a decentralized autonomous organization, or DAO, to govern its blockchain ecosystem and moderate its community organization. Rather than make decisions from top down, its DAO is governing through permissionless smart contracts to cast votes on important decisions and preferences.
Big gaming companies making choices that players absolutely hate? Not with a blockchain DAO, where token holders hold the keys to their gaming kingdom, making decisions on a wide range of topics and business decisions, including:
-Choosing projects to fund or incubate;
-Numerical parameters of product features;
-Yearly roadmap choices after core products are complete;
-Resource management of rewards given through distribution parameters;
-Community involvement mechanisms.
Currently, Seedify is conducting DAO sessions for its 2022 roadmap.
What Is Currently Available Through Seedify?
Seedify’s upcoming IGO, Monster Clan, has revealed a teaser video of gameplay, and was launched on Sept. 14, 2021 for players to participate in third-person battles with their creatures to earn NFTs and cryptocurrency tokens.
Monsters Clan includes content such as unique island NFTs to train NFT monsters for battle, and massive, diverse rewards for those successful in player vs player (PvP) content. In-game NFTs can also be rented or sold to generate income.
With games and decisions being made by the community based on investment, you can be assured each release will try to cultivate a cult-like fan base committed to creating an economy for all sorts of in-game rewards and currencies.
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